139,674 Shares in Great Lakes Dredge & Dock Co. (NASDAQ:GLDD) Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D bought a new position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDDGet Rating) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 139,674 shares of the construction company’s stock, valued at approximately $1,960,000. State of New Jersey Common Pension Fund D owned about 0.21% of Great Lakes Dredge & Dock at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fort Washington Investment Advisors Inc. OH lifted its position in Great Lakes Dredge & Dock by 10.5% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 877,886 shares of the construction company’s stock valued at $12,317,000 after purchasing an additional 83,230 shares during the last quarter. Barnett & Company Inc. lifted its position in Great Lakes Dredge & Dock by 1.4% in the first quarter. Barnett & Company Inc. now owns 63,450 shares of the construction company’s stock valued at $890,000 after purchasing an additional 900 shares during the last quarter. TCW Group Inc. lifted its position in Great Lakes Dredge & Dock by 14.5% in the first quarter. TCW Group Inc. now owns 1,098,538 shares of the construction company’s stock valued at $15,412,000 after purchasing an additional 138,811 shares during the last quarter. Kennedy Capital Management Inc. lifted its position in Great Lakes Dredge & Dock by 1.9% in the fourth quarter. Kennedy Capital Management Inc. now owns 545,339 shares of the construction company’s stock valued at $8,573,000 after purchasing an additional 10,065 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Great Lakes Dredge & Dock by 25.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,697,719 shares of the construction company’s stock valued at $42,408,000 after purchasing an additional 549,127 shares during the last quarter. Institutional investors own 96.18% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research report on Wednesday.

Insider Activity

In other news, COO David E. Simonelli sold 17,700 shares of the business’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $14.12, for a total transaction of $249,924.00. Following the transaction, the chief operating officer now directly owns 245,866 shares of the company’s stock, valued at $3,471,627.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.22% of the company’s stock.

Great Lakes Dredge & Dock Price Performance

GLDD opened at $9.67 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.96 and a current ratio of 2.16. Great Lakes Dredge & Dock Co. has a 52-week low of $9.51 and a 52-week high of $16.27. The stock has a market capitalization of $638.85 million, a PE ratio of 14.01 and a beta of 0.70. The stock’s 50 day moving average price is $13.09 and its 200-day moving average price is $13.81.

Great Lakes Dredge & Dock (NASDAQ:GLDDGet Rating) last posted its earnings results on Tuesday, August 2nd. The construction company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.23). Great Lakes Dredge & Dock had a net margin of 6.30% and a return on equity of 11.49%. During the same period in the previous year, the firm earned $0.03 EPS. On average, equities research analysts predict that Great Lakes Dredge & Dock Co. will post 0.91 EPS for the current year.

Great Lakes Dredge & Dock Profile

(Get Rating)

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.

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Institutional Ownership by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

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